The Scotsman cartoon - Independence and North Sea oil

The First Minister announced plans for a new Oil and Gas Innovation Centre in Aberdeen to create and fast track pioneering solutions for the North Sea industry.

Mr Salmond said: “Recent estimates suggest that activity in the North Sea fields will last for decades with 24 billion barrels of oil equivalent, valued at £1.5 trillion.

“Almost all oil production and more than half of total gas production over the next three decades will take place in Scottish waters. And, of course, only through independence would Scotland receive the tax revenues from this production.”